Clinical Trial Imaging Market

Clinical Trial Imaging Market by Software & Service (Operational Imaging, Trial Design), Modality (CT, MRI, X-Ray, PET, Ultrasound, ECHO), Therapeutic Area (Infectious, Oncology, CNS, CVD), End User (Pharma, Biotech, CROs) & Region - Global Forecast to 2028

Report Code: MD 4818 Aug, 2023, by marketsandmarkets.com

The global clinical trial imaging market in terms of revenue was estimated to be worth $1.3 billion in 2023 and is poised to reach $1.9 billion by 2028, growing at a CAGR of 7.8% from 2023 to 2028. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. Increasing funding in research and development aimed at producing novel disease-fighting medications, coupled with the expansion of biotechnology and pharmaceutical firms, and increasing number of CROs, is expected to drive the market growth.

Attractive Opportunities in the Clinical Trial Imaging Market

Clinical Trial Imaging Market

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Clinical Trial Imaging Market

Clinical Trial Imaging Market Dynamics

Driver: Rise in research and development expenditures

Extensive investments in research for pioneering molecule development are a hallmark of pharmaceutical and biotechnology firms. The rise in both industry and government spending on research and development, combined with a growing emphasis on life science initiatives dedicated to creating novel therapeutic and diagnostic offerings, is projected to contribute positively to the global market.

Restraint: Significant expenses associated with the adoption of imaging systems

Within the healthcare sector, a substantial emphasis is placed on mitigating the escalating expenses associated with healthcare services. Numerous stakeholders in the industry are actively pursuing diverse strategies to achieve this objective. In this landscape, the challenge arises for providers of imaging services, as they grapple with the allocation of considerable capital to procure high-value assets like advanced radiology and other imaging systems. The expenses involved in deploying an imaging system encompass the acquisition, housing, and ongoing maintenance of the equipment. This initial financial burden, coupled with ongoing maintenance outlays, exerts a dampening influence on market expansion. Additionally, to effectively utilize such equipment, imaging service providers necessitate the engagement of skilled professionals, including experienced radiologists. These combined factors contribute to the substantial implementation costs associated with imaging systems, thereby acting as a significant deterrent to the growth trajectory of the global market

Opportunity: Growth opportunities in emerging economies

Emerging nations like India, South Korea, Brazil, and Mexico present substantial growth prospects for participants in the clinical trial imaging sector. This is primarily due to the escalating research and development investments within these countries. These developing markets also demonstrate a robust trend of translating life science research into commercial applications. Given the noteworthy advancements in life sciences research, these economies are poised to provide abundant growth avenues in the clinical trial imaging domain.

Furthermore, the Asian markets, particularly China and India, are home to numerous Contract Research Organizations (CROs) that furnish drug discovery services to pharmaceutical and biotechnology enterprises. With the marked upswing in research and development funding and the presence of CROs in emerging economies, the demand for clinical trial imaging is predicted to surge in these nations in the forthcoming years.

Challenge: Elevated expenses associated with conducting clinical trials

Research endeavors pertaining to healthcare progress invariably encompass clinical trials. These trials constitute a fundamental component for substantiating the efficacy of innovations, encompassing therapeutics, pharmaceuticals, medical apparatus, diagnostics, and scholarly investigations. While laboratory experiments strive to replicate human physiological conditions, the validation of a drug's effectiveness and safety within the targeted population necessitates a critical phase – conducting clinical trials. Nonetheless, orchestrating such trials to meticulously document the impact of therapies or drugs and vigilantly monitor potential adverse effects constitutes a financially demanding undertaking.

Clinical Trial Imaging Market Ecosystem

In 2022, services segment accounted for the largest share of the clinical trial imaging industry, by services and software

Based on product and services, the clinical trial imaging market is divided into services and software segments. Notably, in 2022, the services segment emerged as the dominant contributor to the market, primarily propelled by heightened research and development investments and the increase of the pharmaceutical and biotechnology sectors.

In 2022, computed tomography segment accounted for the largest share of the clinical trial imaging industry, by modality

The clinical trial imaging market is segmented into computed tomography, magnetic resonance imaging, ultrasound, positron emission tomography, X-ray, echocardiography and other modalities based on modality. Notably, in 2022, the computed tomography segment captured the predominant portion of the market share. This prominence can be attributed to factors including the rising presence of Contract Research Organizations (CROs), amplified research and development investments, and the expansion of the pharmaceutical and biotechnology sectors, collectively propelling this market segment.

In 2022, pharmaceutical companies segment accounted for the largest share in the clinical trial imaging industry, by end users

The clinical trial imaging market has been segmented into pharmaceutical companies, biotechnology companies, medical devices manufacturers, contract research organizations, academic and government research institutes and other end users based on end users. In 2022, the pharmaceutical companies segment accounted for the largest share of the market. The swift enlargement of this market is spurred by the escalating need for novel treatments and medications targeting chronic diseases. With the proliferation of pharmaceutical enterprises, manufacturers face intensified pressure to provide cutting-edge medications, striving to maintain competitiveness. The surge in demand for clinical trial imaging is projected to correlate with the remarkable array of innovative medicines unveiled by pharmaceutical companies, thereby playing a pivotal role in propelling the expansion of the market.

North America is the largest regional market for clinical trial imaging industry

The global clinical trial imaging market is segmented into five major regions—North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2022, North America accounted for the largest share of the global market. The North American market's growth can be attributed to the, to the presence of big outsourcing companies and an increase in R&D in the region. Various factors such as the increasing geriatric population along with growing chronic diseases are projected to drive the market in North America. North America also performs the maximum number of clinical trials.

Clinical Trial Imaging Market by Region

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The major players in clinical trial imaging market are ICON plc. (Ireland), BioTelemetry Inc. (US), Biomedical Systems Corporation (US), and Medpace Holdings, Inc. (US). These players lead the market because of their extensive product portfolios and wide geographic presence. These dominant market players also have numerous advantages, such as more robust marketing and distribution networks, larger budgets for R&D, and better brand recognition.

Scope of the Clinical Trial Imaging Industry

Report Metric

Details

Market Revenue in 2023

$1.3 billion

Projected Revenue by 2028

$1.9 billion

Revenue Rate

Poised to Grow at a CAGR of 7.8%

Market Driver

Rise in research and development expenditures

Market Opportunity

Growth opportunities in emerging economies

This report categorizes the clinical trial imaging market to forecast revenue and analyze trends in each of the following submarkets:

Service and Software

  • Services
    • Operational Imaging Services
    • Read Analysis Services
    • System and Technical Support Services
    • Trial Design & Consulting Services
  • Software

By Modality

  • Computed Tomography
  • Magnetic Resonance Imaging
  • Ultrasound
  • Positron Emission Tomography
  • X-ray
  • Echocardiography

By Therapeutic area

  • Oncology
  • Infectious Diseases
  • Neurology
  • CVS
  • Endocrinology
  • Immunological Disorder

By End User

  • Pharmaceutical Companies
  • Biotechnology Companies
  • Medical Device Manufacturer
  • Contract Research Organizations
  • Academic and Government Research Institutes

By Region

  • North America
    • US
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • Latin America
  • Middle East & Africa

Recent Developments of Clinical Trial Imaging Industry

  • In March 2023, ICON Plc. (Ireland) announced a strategic partnership with LEO Pharma (Denmark) to scale clinical trial execution that is patient-centric and cost effective, and which will support the company’s overall ambition of building one of the most effective and efficient clinical portfolio execution organisations in the industry.
  • In March 2023, Clario (US), announced the launch of a cutting-edge cloud-based image viewer tool for sponsors and contract research organizations to view images related to their clinical trials.
  • In May 2021 IXICO Plc. (UK) signed a contract with biopharmaceutical client IXICO to provide neuroimaging services for a Phase III clinical trial under this contract.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 25)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           1.2.1 INCLUSIONS AND EXCLUSIONS
           1.2.2 MARKETS COVERED
                    FIGURE 1 CLINICAL TRIAL IMAGING MARKET SEGMENTATION
           1.2.3 GEOGRAPHIC SCOPE
           1.2.4 YEARS CONSIDERED
           1.2.5 CURRENCY CONSIDERED
    1.3 LIMITATIONS 
    1.4 STAKEHOLDERS 
    1.5 SUMMARY OF CHANGES 
           1.5.1 RECESSION IMPACT
 
2 RESEARCH METHODOLOGY (Page No. - 30)
    2.1 RESEARCH DATA 
    2.2 RESEARCH APPROACH 
          FIGURE 2 MARKET: RESEARCH DESIGN
           2.2.1 SECONDARY DATA
                    2.2.1.1 Key data from secondary sources
           2.2.2 PRIMARY DATA
                    FIGURE 3 BREAKDOWN OF INTERVIEWS: SUPPLY AND DEMAND SIDE
                    2.2.2.1 Key data from primary sources
                    2.2.2.2 Key industry insights
                    2.2.2.3 Breakdown of primary interviews
                                FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS: SUPPLY AND DEMAND-SIDE PARTICIPANTS
                                FIGURE 5 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION
    2.3 MARKET SIZE ESTIMATION 
           2.3.1 BOTTOM-UP APPROACH
                    2.3.1.1 Approach 1: Company revenue estimation approach
                                FIGURE 6 BOTTOM-UP APPROACH: COMPANY REVENUE ESTIMATION APPROACH
                    2.3.1.2 Approach 2: Presentations of companies and primary interviews
                    2.3.1.3 Growth forecast
                    2.3.1.4 CAGR projections
                                FIGURE 7 CAGR PROJECTIONS: SUPPLY-SIDE ANALYSIS
           2.3.2 TOP-DOWN APPROACH
                    FIGURE 8 MARKET: TOP-DOWN APPROACH
    2.4 MARKET BREAKDOWN & DATA TRIANGULATION 
          FIGURE 9 DATA TRIANGULATION METHODOLOGY
    2.5 STUDY ASSUMPTIONS 
    2.6 RISK ASSESSMENT 
    2.7 LIMITATIONS 
    2.8 MARKET: RECESSION IMPACT 
 
3 EXECUTIVE SUMMARY (Page No. - 43)
    FIGURE 10 CLINICAL TRIAL IMAGING MARKET, BY SERVICE & SOFTWARE, 2023 VS. 2028 (USD MILLION)
    FIGURE 11 MARKET, BY MODALITY, 2023 VS. 2028 (USD MILLION)
    FIGURE 12 MARKET, BY THERAPEUTIC AREA, 2023 VS. 2028 (USD MILLION)
    FIGURE 13 MARKET, BY END USER, 2023 VS. 2028 (USD MILLION)
    FIGURE 14 MARKET, BY REGION, 2023 VS. 2028 (USD MILLION)
 
4 PREMIUM INSIGHTS (Page No. - 48)
    4.1 MARKET OVERVIEW 
          FIGURE 15 RISING R&D SPENDING TO DRIVE MARKET GROWTH
    4.2 MARKET SHARE, BY SERVICE & SOFTWARE, 2022 VS. 2028 
          FIGURE 16 SERVICES TO HOLD LARGEST MARKET SHARE TILL 2028
    4.3 MARKET SHARE, BY MODALITY, 2023 VS. 2028 
          FIGURE 17 COMPUTED TOMOGRAPHY TO COMMAND LARGEST SHARE OVER FORECAST PERIOD
    4.4 MARKET SHARE, BY THERAPEUTIC AREA, 2023 VS. 2028 
          FIGURE 18 ONCOLOGY TO DOMINATE MARKET, BY THERAPEUTIC AREA, TILL 2028
    4.5 MARKET SHARE, BY END USER, 2023 VS. 2028 
          FIGURE 19 PHARMACEUTICAL COMPANIES TO RETAIN MARKET LEADERSHIP OVER FORECAST PERIOD
    4.6 MARKET: GEOGRAPHIC GROWTH OPPORTUNITIES 
          FIGURE 20 ASIA PACIFIC TO REGISTER HIGHEST GROWTH RATE TILL 2028
 
5 MARKET OVERVIEW (Page No. - 51)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
          FIGURE 21 CLINICAL TRIAL IMAGING MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Increasing R&D spending
                    5.2.1.2 Growth of pharmaceutical and biotechnology industries
                    5.2.1.3 Increasing number of CROs
           5.2.2 RESTRAINTS
                    5.2.2.1 High implementation cost of imaging systems
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Growth opportunities in emerging economies
                    5.2.3.2 Development of innovative imaging modalities, contrast agents, molecular probes, and radiopharmaceuticals
           5.2.4 CHALLENGES
                    5.2.4.1 High cost of clinical trials
    5.3 PRICING ANALYSIS 
          TABLE 1 PRICES OF CLINICAL TRIAL IMAGING PRODUCTS (2022)
    5.4 PATENT ANALYSIS 
    5.5 TRADE ANALYSIS 
           5.5.1 TRADE ANALYSIS FOR X-RAY APPARATUSES
                    TABLE 2 IMPORT DATA FOR X-RAY APPARATUSES, BY COUNTRY, 2018–2022 (USD MILLION)
                    TABLE 3 EXPORT DATA FOR X-RAY APPARATUSES, BY COUNTRY, 2018–2022 (USD MILLION)
           5.5.2 TRADE ANALYSIS FOR CT APPARATUSES
                    TABLE 4 IMPORT DATA FOR CT APPARATUSES, BY COUNTRY, 2018–2022 (USD MILLION)
                    TABLE 5 EXPORT DATA FOR CT APPARATUSES, BY COUNTRY, 2018–2022 (USD MILLION)
    5.6 VALUE CHAIN ANALYSIS 
          FIGURE 22 MARKET: VALUE CHAIN ANALYSIS
    5.7 SUPPLY CHAIN ANALYSIS 
          FIGURE 23 MARKET: SUPPLY CHAIN ANALYSIS
    5.8 ECOSYSTEM ANALYSIS 
          FIGURE 24 MARKET: ECOSYSTEM ANALYSIS
          TABLE 6 COMPANY ROLE IN ECOSYSTEM
    5.9 PORTER’S FIVE FORCES ANALYSIS 
          TABLE 7 MARKET: PORTER’S FIVE FORCES ANALYSIS
           5.9.1 THREAT OF NEW ENTRANTS
           5.9.2 THREAT OF SUBSTITUTES
           5.9.3 BARGAINING POWER OF BUYERS
           5.9.4 BARGAINING POWER OF SUPPLIERS
           5.9.5 DEGREE OF COMPETITION
    5.10 PESTLE ANALYSIS 
    5.11 REGULATORY LANDSCAPE 
           5.11.1 NORTH AMERICA
                    5.11.1.1 US
                    5.11.1.2 CANADA
           5.11.2 EUROPE
           5.11.3 ASIA PACIFIC
                    5.11.3.1 Japan
                    5.11.3.2 India
                    5.11.3.3 China
           5.11.4 LATIN AMERICA
                    5.11.4.1 Brazil
                    5.11.4.2 Mexico
           5.11.5 MIDDLE EAST
           5.11.6 AFRICA
    5.12 TECHNOLOGY ANALYSIS 
    5.13 CLINICAL TRIAL IMAGING: DISRUPTIVE TECHNOLOGIES 
           FIGURE 25 REVENUE SHIFT IN MARKET
 
6 CLINICAL TRIAL IMAGING MARKET, BY SERVICE & SOFTWARE (Page No. - 67)
    6.1 INTRODUCTION 
          TABLE 8 MARKET, BY SERVICE & SOFTWARE, 2021–2028 (USD MILLION)
    6.2 SERVICES 
          TABLE 9 CLINICAL TRIAL IMAGING SERVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
          TABLE 10 CLINICAL TRIAL IMAGING SERVICES MARKET, BY REGION, 2021–2028 (USD MILLION)
           6.2.1 OPERATIONAL IMAGING SERVICES
                    6.2.1.1 Rising number of CROs to drive market
                                TABLE 11 OPERATIONAL IMAGING SERVICES MARKET, BY REGION, 2021–2028 (USD MILLION)
           6.2.2 READ ANALYSIS SERVICES
                    6.2.2.1 Growing clinical trial activity to support growth
                                TABLE 12 READ ANALYSIS SERVICES MARKET, BY REGION, 2021–2028 (USD MILLION)
           6.2.3 SYSTEM & TECHNICAL SUPPORT SERVICES
                    6.2.3.1 Need for continuous technical support to drive market
                                TABLE 13 SYSTEM & TECHNICAL SUPPORT SERVICES MARKET, BY REGION, 2021–2028 (USD MILLION)
           6.2.4 TRIAL DESIGN & CONSULTING SERVICES
                    6.2.4.1 Rising R&D spending and need for clinical trial support to boost outsourcing
                                TABLE 14 TRIAL DESIGN & CONSULTING SERVICES MARKET, BY REGION, 2021–2028 (USD MILLION)
    6.3 SOFTWARE 
           6.3.1 HIGH EFFICIENCY AND COST-SAVING BENEFITS OF SOFTWARE TO BOOST ADOPTION
                    TABLE 15 CLINICAL TRIAL IMAGING SOFTWARE MARKET, BY REGION, 2021–2028 (USD MILLION)
 
7 CLINICAL TRIAL IMAGING MARKET, BY MODALITY (Page No. - 73)
    7.1 INTRODUCTION 
          TABLE 16 MARKET, BY MODALITY, 2021–2028 (USD MILLION)
    7.2 CT 
           7.2.1 QUICK RESULTS AND LACK OF VISIBLE SIDE EFFECTS TO DRIVE ADOPTION
                    TABLE 17 MARKET FOR CT, BY REGION, 2021–2028
    7.3 MRI 
           7.3.1 INCREASING ADOPTION OF MRI IN ONCOLOGICAL TRIALS AND STUDIES TO DRIVE MARKET
                    TABLE 18 MARKET FOR MRI, BY REGION, 2021–2028 (USD MILLION)
    7.4 ULTRASOUND 
           7.4.1 HIGH SAFETY TO ENSURE CONTINUED DEMAND
                    TABLE 19 MARKET FOR ULTRASOUND, BY REGION, 2021–2028 (USD MILLION)
    7.5 PET 
           7.5.1 ABILITY TO ASSESS PHARMACOKINETIC AND PHARMACODYNAMIC EVENTS TO BOOST ADOPTION
                    TABLE 20 MARKET FOR PET, BY REGION, 2021–2028 (USD MILLION)
    7.6 X-RAY 
           7.6.1 WIDE USAGE IN BONE, CHEST, AND DENTAL IMAGING TO DRIVE MARKET
                    TABLE 21 MARKET FOR X-RAY, BY REGION, 2021–2028 (USD MILLION)
    7.7 ECHOCARDIOGRAPHY 
           7.7.1 ADVANTAGES IN DEFINING AND QUALIFYING POPULATIONS TO BOOST USAGE
                    TABLE 22 MARKET FOR ECHOCARDIOGRAPHY, BY REGION, 2021–2028 (USD MILLION)
    7.8 OTHER MODALITIES 
          TABLE 23 MARKET FOR OTHER MODALITIES, BY REGION, 2021–2028 (USD MILLION)
 
8 CLINICAL TRIAL IMAGING MARKET, BY THERAPEUTIC AREA (Page No. - 81)
    8.1 INTRODUCTION 
          TABLE 24 MARKET, BY THERAPEUTIC AREA, 2021–2028 (USD MILLION)
    8.2 ONCOLOGY 
           8.2.1 INCREASING INCIDENCE OF CANCER TO DRIVE MARKET
                    TABLE 25 MARKET FOR ONCOLOGY, BY REGION, 2021–2028 (USD MILLION)
    8.3 INFECTIOUS DISEASES 
           8.3.1 RISING DRUG DISCOVERY ACTIVITY TO BOOST DEMAND FOR IMAGING
                    TABLE 26 MARKET FOR INFECTIOUS DISEASES, BY REGION, 2021–2028 (USD MILLION)
    8.4 NEUROLOGY 
           8.4.1 GROWING INVESTMENTS IN CNS DISORDER RESEARCH TO DRIVE MARKET
                    TABLE 27 MARKET FOR NEUROLOGY, BY REGION, 2021–2028 (USD MILLION)
    8.5 CVS DISORDERS 
           8.5.1 HIGH MORTALITY RATE OF CVD TO INCREASE CLINICAL TRIAL ACTIVITY
                    TABLE 28 MARKET FOR CVS DISORDERS, BY REGION, 2021–2028 (USD MILLION)
    8.6 ENDOCRINOLOGY 
           8.6.1 RISING INCIDENCE OF DIABETES TO DRIVE MARKET
                    TABLE 29 MARKET FOR ENDOCRINOLOGY, BY REGION, 2021–2028 (USD MILLION)
    8.7 IMMUNOLOGICAL DISORDERS 
           8.7.1 WIDE PREVALENCE OF ALLERGIES, ASTHMA, AND AUTOIMMUNE DISEASES TO SUPPORT DEMAND FOR IMAGING IN TRIALS
                    TABLE 30 MARKET FOR IMMUNOLOGICAL DISORDERS, BY REGION, 2021–2028 (USD MILLION)
    8.8 OTHER THERAPEUTIC AREAS 
          TABLE 31 MARKET FOR OTHER THERAPEUTIC AREAS, BY REGION, 2021–2028 (USD MILLION)
 
9 CLINICAL TRIAL IMAGING MARKET, BY END USER (Page No. - 89)
    9.1 INTRODUCTION 
          TABLE 32 MARKET, BY END USER, 2021–2028 (USD MILLION)
    9.2 PHARMACEUTICAL COMPANIES 
           9.2.1 PHARMA COMPANIES TO HOLD LARGEST SHARE OF END-USER MARKET
                    FIGURE 26 RISING R&D INVESTMENTS IN PHARMACEUTICAL INDUSTRY, 2012–2026 (USD BILLION)
                    TABLE 33 MARKET FOR PHARMACEUTICAL COMPANIES, BY REGION, 2021–2028 (USD MILLION)
    9.3 BIOTECHNOLOGY COMPANIES 
           9.3.1 RISING R&D BUDGETS OF BIOTECH COMPANIES TO DRIVE MARKET
                    TABLE 34 TOP BIOTECHNOLOGY INVESTMENT DEALS, 2020
                    TABLE 35 MARKET FOR BIOTECHNOLOGY COMPANIES, BY REGION, 2021–2028 (USD MILLION)
    9.4 MEDICAL DEVICE MANUFACTURERS 
           9.4.1 INCREASING R&D SPENDING BY MEDICAL DEVICES MANUFACTURERS TO SUPPORT GROWTH
                    TABLE 36 MARKET FOR MEDICAL DEVICE MANUFACTURERS, BY REGION, 2021–2028 (USD MILLION)
    9.5 CROS 
           9.5.1 INCREASING TREND OF OUTSOURCING TO DRIVE MARKET
                    TABLE 37 MARKET FOR CROS, BY REGION, 2021–2028 (USD MILLION)
    9.6 ACADEMIC & GOVERNMENT RESEARCH INSTITUTES 
           9.6.1 INCREASING RESEARCH ACTIVITY TO DRIVE MARKET
                    TABLE 38 MARKET FOR ACADEMIC & GOVERNMENT RESEARCH INSTITUTES, BY REGION, 2021–2028 (USD MILLION)
    9.7 OTHER END USERS 
          TABLE 39 MARKET FOR OTHER END USERS, BY REGION, 2021–2028 (USD MILLION)
 
10 CLINICAL TRIAL IMAGING MARKET, BY REGION (Page No. - 97)
     10.1 INTRODUCTION 
             TABLE 40 MARKET, BY REGION, 2021–2028 (USD MILLION)
     10.2 NORTH AMERICA 
             FIGURE 27 NORTH AMERICA: MARKET SNAPSHOT
             10.2.1 NORTH AMERICA: RECESSION IMPACT
                       TABLE 41 NORTH AMERICA: MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
                       TABLE 42 NORTH AMERICA: MARKET, BY SERVICE & SOFTWARE, 2021–2028 (USD MILLION)
                       TABLE 43 NORTH AMERICA: MARKET, BY MODALITY, 2021–2028 (USD MILLION)
                       TABLE 44 NORTH AMERICA: MARKET, BY END USER, 2021–2028 (USD MILLION)
             10.2.2 US
                        10.2.2.1 Rising biopharma investment to favor market growth
                                      TABLE 45 US: PRODUCT APPROVALS IN CLINICAL TRIAL IMAGING
                                      TABLE 46 US: MARKET, BY SERVICE & SOFTWARE, 2021–2028 (USD MILLION)
                                      TABLE 47 US: MARKET, BY MODALITY, 2021–2028 (USD MILLION)
                                      TABLE 48 US: MARKET, BY END USER, 2021–2028 (USD MILLION)
             10.2.3 CANADA
                        10.2.3.1 Rising per capita healthcare spending to drive market
                                      TABLE 49 CANADA: CLINICAL TRIAL IMAGING MARKET, BY SERVICE & SOFTWARE, 2021–2028 (USD MILLION)
                                      TABLE 50 CANADA: MARKET, BY MODALITY, 2021–2028 (USD MILLION)
                                      TABLE 51 CANADA: CLINICAL TRIAL IMAGING INDUSTRY, BY END USER, 2021–2028 (USD MILLION)
     10.3 EUROPE 
             10.3.1 EUROPE: RECESSION IMPACT
                       TABLE 52 EUROPE: MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
                       TABLE 53 EUROPE: MARKET, BY SERVICE & SOFTWARE, 2021–2028 (USD MILLION)
                       TABLE 54 EUROPE: MARKET, BY MODALITY, 2021–2028 (USD MILLION)
                       TABLE 55 EUROPE: MARKET, BY END USER, 2021–2028 (USD MILLION)
             10.3.2 GERMANY
                        10.3.2.1 Germany to dominate market in Europe
                                      TABLE 56 GERMANY: MARKET, BY SERVICE & SOFTWARE, 2021–2028 (USD MILLION)
                                      TABLE 57 GERMANY: MARKET, BY MODALITY, 2021–2028 (USD MILLION)
                                      TABLE 58 GERMANY: MARKET, BY END USER, 2021–2028 (USD MILLION)
             10.3.3 UK
                        10.3.3.1 Favorable government initiatives and growing R&D spending to drive market
                                      TABLE 59 UK: MARKET, BY SERVICE & SOFTWARE, 2021–2028 (USD MILLION)
                                      TABLE 60 UK: MARKET, BY MODALITY, 2021–2028 (USD MILLION)
                                      TABLE 61 UK: MARKET, BY END USER, 2021–2028 (USD MILLION)
             10.3.4 FRANCE
                        10.3.4.1 Presence of leading pharmaceutical companies to support growth
                                      TABLE 62 FRANCE: CLINICAL TRIAL IMAGING MARKET, BY SERVICE & SOFTWARE, 2021–2028 (USD MILLION)
                                      TABLE 63 FRANCE: MARKET, BY MODALITY, 2021–2028 (USD MILLION)
                                      TABLE 64 FRANCE: CLINICAL TRIAL IMAGING INDUSTRY, BY END USER, 2021–2028 (USD MILLION)
             10.3.5 ITALY
                        10.3.5.1 Increasing drug approvals to ensure sustained demand for clinical trial imaging
                                      TABLE 65 ITALY: MARKET, BY SERVICE & SOFTWARE, 2021–2028 (USD MILLION)
                                      TABLE 66 ITALY: MARKET, BY MODALITY, 2021–2028 (USD MILLION)
                                      TABLE 67 ITALY: MARKET, BY END USER, 2021–2028 (USD MILLION)
             10.3.6 SPAIN
                        10.3.6.1 Increasing biologics production to support market growth
                                      TABLE 68 SPAIN: MARKET, BY SERVICE & SOFTWARE, 2021–2028 (USD MILLION)
                                      TABLE 69 SPAIN: MARKET, BY MODALITY, 2021–2028 (USD MILLION)
                                      TABLE 70 SPAIN: MARKET, BY END USER, 2021–2028 (USD MILLION)
             10.3.7 REST OF EUROPE
                       TABLE 71 REST OF EUROPE: MARKET, BY SERVICE & SOFTWARE, 2021–2028 (USD MILLION)
                       TABLE 72 REST OF EUROPE: MARKET, BY MODALITY, 2021–2028 (USD MILLION)
                       TABLE 73 REST OF EUROPE: CLINICAL TRIAL IMAGING INDUSTRY, BY END USER, 2021–2028 (USD MILLION)
     10.4 ASIA PACIFIC 
             FIGURE 28 ASIA PACIFIC: CLINICAL TRIAL IMAGING MARKET SNAPSHOT
             10.4.1 ASIA PACIFIC: RECESSION IMPACT
                       TABLE 74 ASIA PACIFIC: MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
                       TABLE 75 ASIA PACIFIC: MARKET, BY SERVICE & SOFTWARE, 2021–2028 (USD MILLION)
                       TABLE 76 ASIA PACIFIC: MARKET, BY MODALITY, 2021–2028 (USD MILLION)
                       TABLE 77 ASIA PACIFIC: MARKET, BY END USER, 2021–2028 (USD MILLION)
             10.4.2 CHINA
                        10.4.2.1 China to dominate APAC market throughout forecast period
                                      TABLE 78 CHINA: MARKET, BY SERVICE & SOFTWARE, 2021–2028 (USD MILLION)
                                      TABLE 79 CHINA: MARKET, BY MODALITY, 2021–2028 (USD MILLION)
                                      TABLE 80 CHINA: CLINICAL TRIAL IMAGING INDUSTRY, BY END USER, 2021–2028 (USD MILLION)
             10.4.3 JAPAN
                        10.4.3.1 Rising population and healthcare expenditure to favor market growth
                                      TABLE 81 JAPAN: MARKET, BY SERVICE & SOFTWARE, 2021–2028 (USD MILLION)
                                      TABLE 82 JAPAN: MARKET, BY MODALITY, 2021–2028 (USD MILLION)
                                      TABLE 83 JAPAN: MARKET, BY END USER, 2021–2028 (USD MILLION)
             10.4.4 INDIA
                        10.4.4.1 Rising R&D investment to boost adoption of clinical trial imaging
                                      TABLE 84 INDIA: MARKET, BY SERVICE & SOFTWARE, 2021–2028 (USD MILLION)
                                      TABLE 85 INDIA: MARKET, BY MODALITY, 2021–2028 (USD MILLION)
                                      TABLE 86 INDIA: CLINICAL TRIAL IMAGING INDUSTRY, BY END USER, 2021–2028 (USD MILLION)
             10.4.5 REST OF ASIA PACIFIC
                       TABLE 87 REST OF ASIA PACIFIC: CLINICAL TRIAL IMAGING MARKET, BY SERVICE & SOFTWARE, 2021–2028 (USD MILLION)
                       TABLE 88 REST OF ASIA PACIFIC: MARKET, BY MODALITY, 2021–2028 (USD MILLION)
                       TABLE 89 REST OF ASIA PACIFIC: MARKET, BY END USER, 2021–2028 (USD MILLION)
     10.5 LATIN AMERICA 
             10.5.1 LOW COST OF RESOURCES, TAX ADVANTAGES TO ATTRACT PLAYER INTEREST
             10.5.2 LATIN AMERICA: RECESSION IMPACT
                       TABLE 90 LATIN AMERICA: MARKET, BY SERVICE & SOFTWARE, 2021–2028 (USD MILLION)
                       TABLE 91 LATIN AMERICA: MARKET, BY MODALITY, 2021–2028 (USD MILLION)
                       TABLE 92 LATIN AMERICA: MARKET, BY END USER, 2021–2028 (USD MILLION)
     10.6 MIDDLE EAST & AFRICA 
             10.6.1 RISING RESEARCH FUNDING AND PARTNERSHIPS TO DRIVE MARKET
             10.6.2 MIDDLE EAST & AFRICA: RECESSION IMPACT
                       TABLE 93 MIDDLE EAST & AFRICA: MARKET, BY SERVICE & SOFTWARE, 2021–2028 (USD MILLION)
                       TABLE 94 MIDDLE EAST & AFRICA: MARKET, BY MODALITY, 2021–2028 (USD MILLION)
                       TABLE 95 MIDDLE EAST & AFRICA: CLINICAL TRIAL IMAGING INDUSTRY, BY END USER, 2021–2028 (USD MILLION)
 
11 COMPETITIVE LANDSCAPE (Page No. - 131)
     11.1 OVERVIEW 
     11.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 
             11.2.1 RIGHT-TO-WIN APPROACHES ADOPTED BY PLAYERS
                        TABLE 96 CLINICAL TRIAL IMAGING MARKET: STRATEGIES ADOPTED BY KEY PLAYERS
     11.3 REVENUE SHARE ANALYSIS OF TOP MARKET PLAYERS 
             FIGURE 29 REVENUE SHARE ANALYSIS OF KEY PLAYERS (2022)
     11.4 MARKET SHARE ANALYSIS 
             FIGURE 30 MARKET SHARE ANALYSIS OF KEY PLAYERS (2022)
             TABLE 97 CLINICAL TRIAL IMAGING INDUSTRY: DEGREE OF COMPETITION
     11.5 COMPANY EVALUATION MATRIX (2022) 
             11.5.1 STARS
             11.5.2 EMERGING LEADERS
             11.5.3 PERVASIVE PLAYERS
             11.5.4 PARTICIPANTS
                        FIGURE 31 MARKET: COMPANY EVALUATION MATRIX, 2022
     11.6 COMPANY EVALUATION MATRIX FOR STARTUPS/SMES (2022) 
             11.6.1 PROGRESSIVE COMPANIES
             11.6.2 STARTING BLOCKS
             11.6.3 RESPONSIVE COMPANIES
             11.6.4 DYNAMIC COMPANIES
                        FIGURE 32 CLINICAL TRIAL IMAGING INDUSTRY: COMPANY EVALUATION MATIRX FOR STARTUPS/SMES, 2022
     11.7 COMPETITIVE BENCHMARKING 
             FIGURE 33 PRODUCT AND GEOGRAPHIC FOOTPRINT ANALYSIS OF KEY PLAYERS
             TABLE 98 COMPANY PRODUCT FOOTPRINT
             TABLE 99 COMPANY GEOGRAPHICAL FOOTPRINT
     11.8 COMPETITIVE SCENARIO 
             11.8.1 PRODUCT LAUNCHES & APPROVALS
                       TABLE 100 KEY PRODUCT LAUNCHES & APPROVALS (2020–2023)
             11.8.2 DEALS
                       TABLE 101 KEY DEALS (2020–2023)
 
12 COMPANY PROFILES (Page No. - 141)
(Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)*
     12.1 KEY PLAYERS 
             12.1.1 ICON PLC.
                       TABLE 102 ICON PLC.: BUSINESS OVERVIEW
                       FIGURE 34 ICON PLC.: COMPANY SNAPSHOT (2022)
             12.1.2 BIOTELEMETRY (PHILIPS)
                       TABLE 103 BIOTELEMETRY: BUSINESS OVERVIEW
                       FIGURE 35 PHILIPS GROUP: COMPANY SNAPSHOT (2022)
             12.1.3 MEDPACE HOLDINGS INC.
                       TABLE 104 MEDPACE HOLDINGS INC.: BUSINESS OVERVIEW
                       FIGURE 36 MEDPACE HOLDINGS INC.: COMPANY SNAPSHOT (2022)
             12.1.4 BIOMEDICAL SYSTEMS CORPORATION (ERT CLINICAL)
                       TABLE 105 BIOMEDICAL SYSTEMS CORPORATION: BUSINESS OVERVIEW
             12.1.5 BIOCLINICA INC. (CLARIO)
                       TABLE 106 BIOCLINICA INC.: BUSINESS OVERVIEW
             12.1.6 IXICO PLC.
                       TABLE 107 IXICO PLC.: BUSINESS OVERVIEW
                       FIGURE 37 IXICO PLC.: COMPANY SNAPSHOT (2022)
             12.1.7 RESONANCE HEALTH ANALYSIS SERVICES (RESONANCE HEALTH)
                       TABLE 108 RESONANCE HEALTH LTD.: BUSINESS OVERVIEW
                       FIGURE 38 RESONANCE HEALTH LTD.: COMPANY SNAPSHOT (2022)
             12.1.8 RADIANT SAGE LLC
                       TABLE 109 RADIANT SAGE LLC: BUSINESS OVERVIEW
             12.1.9 INTRINSIC IMAGING (WCG CLINICAL)
                       TABLE 110 WCG CLINICAL: BUSINESS OVERVIEW
             12.1.10 CARDIOVASCULAR IMAGING TECHNOLOGIES
                       TABLE 111 CARDIOVASCULAR IMAGING TECHNOLOGIES: BUSINESS OVERVIEW
     12.2 OTHER PLAYERS 
             12.2.1 MEDICAL METRICS
             12.2.2 PRISM CLINICAL IMAGING
             12.2.3 BOSTON IMAGING CORE LAB
             12.2.4 ANAGRAM 4 CLINICAL TRIALS
             12.2.5 LYSCAUT MEDICAL IMAGING COMPANY
             12.2.6 CALYX GROUP
             12.2.7 BIOSPECTIVE
             12.2.8 PROSCAN IMAGING
             12.2.9 MICRON, INC.
             12.2.10 IMAGING ENDPOINTS LI LLC.
             12.2.11 PERSPECTUM
             12.2.12 PHARMTRACE KLINISCHE ENTWICKLUNG GMBH
             12.2.13 WORLDCARE CLINICAL
             12.2.14 MEDIAN TECHNOLOGIES
             12.2.15 INVICRO. LLC.
 
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)* might not be captured in case of unlisted companies.
 
13 APPENDIX (Page No. - 172)
     13.1 DISCUSSION GUIDE 
     13.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     13.3 CUSTOMIZATION OPTIONS 
     13.4 RELATED REPORTS 
     13.5 AUTHOR DETAILS 

The objective of the study is to analyze the key market dynamics, such as drivers, opportunities, challenges, restraints, and key player strategies. To track company developments such as acquisitions, product launches, expansions, collaborations, agreements, and partnerships of the leading players, the competitive landscape of the clinical trial imaging market to analyze market players on various parameters within the broad categories of business and product strategy. Top-down and bottom-up approaches were used to estimate the market size. To estimate the market size of segments and subsegments, market breakdown and data triangulation were used.

The four steps involved in estimating the market size are:

Collecting Secondary Data

The secondary research data collection process involves the usage of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B), annual reports, investor presentations, and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the market. A database of the key industry leaders was also prepared using secondary research.

Collecting Primary Data

The primary research data was conducted after acquiring knowledge about the market scenario through secondary research. A significant number of primary interviews were conducted with stakeholders from both the demand side (such as hospitals & ICUs, diagnostic laboratories, research institutes, research laboratories and point-of-care settings) and supply side (such as included various industry experts, such as Directors, Chief X Officers (CXOs), Vice Presidents (VPs) from business development, marketing and product development teams, product manufacturers, wholesalers, channel partners, and distributors) across major countries of North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. Approximately 40% of the primary interviews were conducted with stakeholders from the demand side, while those from the supply side accounted for the remaining 60%. Primary data for this report was collected through questionnaires, emails, and telephonic interviews.

A breakdown of the primary respondents is provided below:

The following is a breakdown of the primary respondents:

Clinical Trial Imaging Market Size, and Share

Note 1: *Others include sales managers, marketing managers, and product managers.

Note 2: Tiers are defined based on a company’s total revenue as of 2022: Tier 1=> USD 1 billion, Tier 2 = USD 500 million to USD 1 billion, and Tier 3=< USD 500 million.

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

All major product manufacturers offering various clinical trial imaging products were identified at the global/regional level. Revenue mapping was done for the major players and was extrapolated to arrive at the global market value of each type of segment. The market value clinical trial imaging market was also split into various segments and subsegments at the region and country level based on:

  • Product mapping of various manufacturers for each type of market at the regional and country-level  
  • Relative adoption pattern of each market among key application segments at the regional and/or country-level 
  • Detailed primary research to gather qualitative and quantitative information related to segments and subsegments at the regional and/or country-level. 
  • Detailed secondary research to gauge the prevailing market trends at the regional and/or country-level 

Global Clinical Trial Imaging Market Size: Top-Down Approach

Clinical Trial Imaging Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Data Triangulation

After arriving at the overall market size—using the market size estimation processes—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the clinical trial imaging industry.

Market Definition

Clinical trial Imaging is used to create images during clinical trials while conducting research. Such imaging testing is mainly done using X-rays, computed tomography (CT), magnetic resonance imaging (MRI), ultrasound, and positron emission tomography (PET). In clinical trials, imaging is used primarily to evaluate efficacy, endpoints, and more frequently, for safety evaluations and eligibility criteria.

Key Stakeholders

  • Medical Device Industries
  • Academic and Government Research Institutes
  • Diagnostic Centers
  • Market Research & Consulting Firms
  • Clinical Trial Imaging Manufacturers, Vendors, and Distributors
  • Pharmaceutical and Biotechnology Companies and Contract Research Organizations (CROs)

Report Objectives

  • To define, describe, segment, and forecast the clinical trial imaging market by service & software, modality, therapeutic area, end user, and region
  • To provide detailed information regarding the major factors influencing the market growth (drivers, restraints, opportunities, and challenges)
  • To analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall market
  • To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
  • To forecast the size of the market segments with respect to five regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa
  • To profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies
  • To track and analyze company developments such as acquisitions, agreements, partnerships, contracts, approvals, product launches, and mergers in the clinical trial imaging market
  • To benchmark players within the market using the proprietary “Company Evaluation Matrix” framework, which analyzes market players on various parameters within the broad categories of business and product strategy

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for this report:

Country Information

Clinical trial imaging market size and growth rate estimates for countries in the Rest of Europe, the Rest of Asia Pacific, Latin America, and Middle East & Africa.

Company profiles

An additional fifteen company profiles of players operating in the clinical trial imaging market.

Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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Aug, 2023
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